KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Sept 6): Malaysian stocks bucked regional trend to finish higher today, as bargain hunting helped the market to recover from yesterday's fall.
The FBM KLCI closed 0.16% or 2.85 points higher at 1,772.48. The market traded between an intra-day high of 1,772.62 and a low of 1,767.07 today.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said while the KLCI opened lower today, bargain-hunting activities in selected heavyweights pushed the benchmark index higher.
"It is also probably because of the stronger ringgit and higher crude oil prices that pushed the key index upward," he told theedgemarkets.com.
Leong said trading volume is at a healthy 2 billion range since yesterday, indicating fresh money coming into the market.
However, trading volume fell to 2.21 billion shares worth RM1.81 billion compared with yesterday's 2.53 billion shares worth RM2.18 billion. Market breadth was positive with 407 gainers compared with 377 losers.
According to Bloomberg, Asian shares finished lower today, to extend losses for a second day in a row, after North Korea's nuclear test on Sunday rattled global equity markets.
Japan's Nikkei 225 dropped 0.14%, South Korea's Kospi fell 0.29% while Hong Kong's Hang Seng was down 0.46%.
A top North Korean diplomat reportedly warned yesterday his country is ready to send "more gift packages" to the US as world powers struggled to find an effective response to Pyongyang's latest nuclear weapons test.
Source: The Edge
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